Hutchmed (China) (00013.HK) recently announced that it will invest 0.608 billion USD to sell its 45% stake in Shanghai Hutchmed to Jinpu Jianfu Investment Management and SH PHARMA (02607.HK). BOCOM INTL believes that the terms of this Trade are reasonable, and the pricing is excellent, which will help the company further focus on its core business of innovative research and development. The funds obtained are expected to be used for developing internal product pipelines, promoting the strategic development of core Business, which includes the next-generation antibody-targeted conjugate (ATTC) platform, beneficial for long-term development in the future.

Therefore, BOCOM INTL has raised the Target Price for Hutchmed (China) to 44 Hong Kong dollars, maintaining a "Buy" rating, expecting the company to continue making significant progress in the development of its mid-to-late stage pipeline, which could become a catalyst for the stock price this year.